London close: FTSE ends higher ahead of Fed meeting result

Investors showed a degree of confidence in the Wednesday session as markets awaited the outcome of the latest Federal Open Market Committee (FOMC) meeting.Steady gains were seen throughout much of the session, with a slight weakening towards the close, although the Footsie ultimately closed up 51.7 points at 6,453.87."There was an underlying confidence in European trading today in the expectation that despite ending its quantitative easing programme the Federal Reserve will keep monetary policy accommodative for a considerable period of time," said CMC market analyst Jasper Lawler.To some extent, the meeting distracted traders from the bigger-than-expected slowdown in UK mortgage approvals and a profit warning from Next.Total lending to individuals rose by £2.7bn or 0.2% month-on-month in September, to reach £1.46trn according to the Bank of England, while total mortgage lending was higher by 0.1% over the same month, or £1.8bn, hitting 1,294bn.However, the number of mortgage approvals for home purchase slipped to 61,267 - a 16-month low - from the 64,054 seen in the previous month, below the 62,000 forecast by economists."The new mortgage regulations implemented by the Bank of England have cut some prospective buyers out of the market and limited others in the size of the mortgage that's obtainable [which] has tipped the balance a little between buyers and sellers and house prices have come down accordingly since the summer," Lawler explained."For now the slowdown in UK mortgages given would appear to be directly related to new regulations on lenders, but if the economic recovery continues to cool and house prices continue to slip then the slowdown in mortgages could reflect a genuine decrease in demand for housing."JP Morgan comments lift IntertekJP Morgan analysts reiterated their 'overweight' recommendation on shares of testing services firm Intertek following a sales meeting with the company's chief executive officer, Wolfhart Hauser, the previous afternoon."It was an interesting meeting and it seemed to us that, after a weak first half, trading should improve somewhat in the second half and then into next year," the analysts said.TUI Travel shares also moved firmly higher after the majority of its shareholders approved the merger with TUI AG.Tesco rose despite the news the Serious Fraud Office will begin an investigation into its profit misstatement.Meanwhile, Royal Mail declined after Credit Suisse reiterated its 'underperform' rating.Capita declined after missing out on Ministry of Justice contracts after FTSE 250 group Interserve became the only UK-listed group to be named as a preferred bidder. Capita had placed bids for five contracts.A profit warnings from Next hit fellow retailers Marks & Spencer and Supergroup, although Next itself came off its intra-day low to end the day with minimal losses.Market MoverstechMARK 2,734.44 +0.95%FTSE 100 6,453.87 +0.81%FTSE 250 15,234.14 +0.73%FTSE 100 - RisersIntertek Group (ITRK) 2,709.00p +5.08%TUI Travel (TT.) 395.40p +3.32%IMI (IMI) 1,204.00p +2.56%Experian (EXPN) 946.50p +2.38%Sainsbury (J) (SBRY) 250.60p +2.16%Old Mutual (OML) 190.00p +2.15%Tesco (TSCO) 173.35p +2.09%Imperial Tobacco Group (IMT) 2,645.00p +2.04%Rolls-Royce Holdings (RR.) 802.00p +2.04%Aberdeen Asset Management (ADN) 421.50p +2.01%FTSE 100 - FallersCapita (CPI) 1,082.00p -6.48%Royal Mail (RMG) 437.70p -3.44%International Consolidated Airlines Group SA (CDI) (IAG) 385.20p -2.48%Rio Tinto (RIO) 2,986.50p -1.22%Barclays (BARC) 220.50p -1.12%Fresnillo (FRES) 749.00p -1.12%St James's Place (STJ) 688.00p -1.01%CRH (CRH) 1,362.00p -0.95%Whitbread (WTB) 4,286.00p -0.88%Marks & Spencer Group (MKS) 404.00p -0.64%FTSE 250 - RisersSaga (SAGA) 160.00p +5.61%Genus (GNS) 1,251.00p +5.30%IP Group (IPO) 199.90p +4.93%COLT Group SA (COLT) 130.90p +3.89%Booker Group (BOK) 136.70p +3.80%Ferrexpo (FXPO) 89.65p +3.58%Pets at Home Group (PETS) 194.60p +3.51%Serco Group (SRP) 297.60p +3.41%Spectris (SXS) 1,767.00p +3.33%Interserve (IRV) 614.50p +3.28%FTSE 250 - FallersPlaytech (PTEC) 708.00p -4.26%Supergroup (SGP) 889.00p -3.58%Countrywide (CWD) 450.70p -3.08%Balfour Beatty (BBY) 154.60p -2.46%PayPoint (PAY) 866.00p -2.15%Spire Healthcare Group (SPI) 275.00p -1.79%Evraz (EVR) 129.80p -1.67%SSP Group (SSPG) 239.40p -1.64%Infinis Energy (INFI) 213.10p -1.57%TSB Banking Group (TSB) 261.50p -1.51%